Air Canada CEO’s compensation cut by more than half to $5.8 million due to COVID-19 GlobeBusiness
As of May 4, when the company’s share price closed at $17.63 on the Toronto Stock Exchange, the total compensation of its president and chief executive officer was estimated at $5.8 million. Air Canada’s shares closed at $16.76 on Monday.
Remuneration of top executives and board members were included in a proxy circular sent to Air Canada shareholders prior to its virtual meeting scheduled for June 25.Rovinescu, 64, was entitled last year to a base salary of $1.4 million. The value of his share-based awards fell to $1.89 million from $3.55 million, and $3.5 million in options were worthless due to a big drop in the share price. His bonus was also cut by more than half, to $1.6 million from $3.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Air Canada, Transat deal faces intense EU antitrust scrutinyEuropean regulators say the deal may result in higher prices and less choice for flights between Europe and Canada
Read more »
Globe editorial: Canada, and the world, must stand up to China’s latest attack on Hong KongChina’s ruling party has cooked up a new recipe for putting the semi-autonomous territory under the thumb of its national security state
Read more »
What's Coming And Going From Netflix Canada In JuneWe all really need a new season of 'Queer Eye' at a time like this.
Read more »